Question
C. D. Rom has just given an insurance company $40,000. In return, he will receive an annuity of $4,200 for 20 years. At what rate
| C. D. Rom has just given an insurance company $40,000. In return, he will receive an annuity of $4,200 for 20 years. |
| At what rate of return must the insurance company invest this $40,000 in order to make the annual payments? Interpolate. Use Appendix D. (Round "PV Factor" to 3 decimal places and final answer to 2 decimal places. Omit the "%" sign in your response.) |
| Rate of return | % |
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The Social Media Handbook For Financial Advisors
Authors: Matthew Halloran
1st Edition
1118208013, 978-1118208014
